Assume that GDP is $9 Trillion, receipts of factor income from the rest of the world are $2 Trillion, and payments of factor income to the rest of the world are $1 Trillion. Calculate GNP from this information.
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Q37: Q38: Explain what the phrase "net factor income Q39: How is the capital stock at the Q40: What are the three types of personal Q41: Write out the equation for calculating personal Q43: Explain why each of the following items Q44: Explain the two approaches that can be Q45: Explain the terms nominal GDP and real Q46: Identify which of the following item (s) Q47: Explain and define NNP.
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